Invoke FAS IFRS 16

Apprehending IFRS 16 through Strategic Decision Making

Specially designed to ensure compliance with the new leasing regulation, FAS IFRS 16 comes with certified standard data model and configuration.

The International Accounting Standards Board (IASB) issued IFRS 16 in 2016, with an effective date of 1 January 2019, with the purpose of increasing transparency on lease transactions. This will have a major impact on lease recognition in both balance sheet and income statement.

• A universal, ETL-like import feature, which lets you import data from virtually any software on the market (accounting, ERP etc.) or Excel® files.

• A flexible data input capacity, which lets you either input data directly through the Invoke FAS platform, or decentralize data input by providing subsidiaries with the option to use the online FAS Web application.

A simplified inventory of IFRS 16 eligible leases

Once the data has been collected, leases are stored in a lease library.
A smart engine automatically identifies leases within the scope of IFRS 16.

Data compliance through a certified standard configuration

FAS IFRS 16 standard configuration was audited and certified by one of the top audit and accounting Firms among the (‘Big 4’). This configuration covers: